$80 oil and below

[Tractorat]

I really dont think this will happen. Saudi, Venez, and the speculators will turn this oil downturn around in quick fashion, Im sure.



But, is anyone thinking they may have made a mistake by selling their rig now ?



Just wondering

 

[jgillott]

I will admit that I never thought that $80 or below oil prices would be possible ever again. But the slightly reduced demand and the ever increasing possibility of increased domestic drilling may continue downward pressure on the oil market.

 

[Regcabguy]

The downturn in the economy and corrections in real estate due largely to unrealistic loans(can you say interest only and no doc. ) hopefully will encourage both parties to explore domestic harvesting of all forms of energy. Lots of high paying jobs in the construction,exploration,technical and potential applications of this newly acquired energy should result in a better economy and domestic security.

 

[Forrest Nearing]

if it happens, the economy is going to be in really bad shape!



sad to say, but the price of oil needs to be $100+/bbl to stay afloat

 

[JDiepstra]

if it happens, the economy is going to be in really bad shape!



sad to say, but the price of oil needs to be $100+/bbl to stay afloat

Why is that?



I am not so sure that $80 oil is not possible. The gov just took over FreddieMac and FannieMay, Merryl Lynch is selling out, some other big name joint (Leeman Brothers I think) was just allowed to fail by the gov, the stock market just had its largest drop today since 9/11..... don't think that speculators are dumb. They will just put their money into something else now.

 

[Tractorat]

Well, Im not sure if oil needs to be at $100/bbl to stay afloat. Even the Saudi's said a few months back that it should be in the $80 range, which is still probably pretty high.



That $100/bbl is only more $ for opec and the speculators. No one else (other than governments collecting taxes) benefits from that high price. It is infllationary, and it is at the core of the current downfall of the world economy. (well, the crooked real estate lenders helped a little too)

 

[Forrest Nearing]

did you guys happen to see what happened in the markets today!?

 

[Ncostello]

Ahhhh. Doesn't really matter afterall what the price per barrel is. Has nothing to do with the price at the pump. See... the news tonight said a barrel of crude dropped below 100... yet prices at the pump are as high as ever due to this and this and that and this etc etc etc.



So we've all been paying attention and blaming the wrong thing. I knew this was comlicated.

 

[DCreed]

Before the last storm even hit the coast of texas the fuel price @ pumps was going up AGAIN!#@$%! The cost per barrel continues to drop and cost at the pump DOES NOT reflect that! Down pennies per week and Up nickels per day! Wait until the old cold weather fuel oil demand hits, I think theyre trying to hold prices high so they can go up from there. :{

 

[JMetzger]

I saw yesterday crude hit $96. 00 a barrel. Why are we still paying $4. 15 a gal for diesel?

 

[Tractorat]

Ive seen it drop below $90 this morning. Im still paying $4. 37, and it hasnt come down at all in the last few weeks. It seems like gas has dropped a bit, but diesel isnt budging.

 

[DCreed]

its going back up around here!!

 

[Tractorat]

Well, oil is still going down. Whats that tell you about the refineries and your local gas stations ?

 

[mberry]

I saw yesterday crude hit $96. 00 a barrel. Why are we still paying $4. 15 a gal for diesel?

Because you're in Gardenerville. I live in Fernley and it's finally under $4 a gallon for diesel at Loves, Pilot, and the Quickstop on 95A. It was still $4. 25 or $4. 29 at the Shell station. I don't even bother looking at the Exxon or Chevron anymore.

 

[Ram4Sam]

It's crazy here in So Cal also. Yesterday morning, the local Arco was 3. 85 per, and in the afternoon it was at 3. 81.



Sam

 

[JMetzger]

mberry, you are right. You are lucky that you have a Love's, Pilot & a Quickstop. We have a Pacific Gas & that is what is $4. 15 the cheapest here.

Jack

 

[The patriot]

I can dam near see the refineries from here (well... . theyre less then 1 hr from me) and I'm still seeing $4. 00 ++ prices on diesel. #@$%!

The regular gas was down to $3. 19 just before the storm hit. Now there in the $3. 50 range.

 

[RGardner]

I don't get all this stir about the great drop in diesel prices, we are still higher than a year ago and big oil and the arabs were making gobs of money then!

 

[Tractorat]

The drop has been in oil. Diesel hasnt gone down much. But dont worry. I notice that oil is up 2-1/2 bucks this morning.

 

[AABEN]

Forrest N WHERE DO YOU GET THAT OIL NEEDS TO OVER 100. 00??? I thank that you are wrong!! The spectators drove oil up over 40. 00 a barrel. Take 40. 00 off of 90. 00 that will put it down to 50. 00 a barrel!